Drilling along the LP fault at\u00a0Great Bear Resources\u2019\u00a0wholly-owned Dixie gold project in Red Lake Ontario continues to return long intervals of high-grade gold mineralization.<\/p>\n
The most recent release includes the results of hole BR-133, which intersected 25.2 metres of 15.5 g\/t gold, and includes a higher-grade interval of 12.4 metres grading 30.51 g\/t gold \u2013 according to the company, this is the widest, highest-grade gold interval drilled at the LP fault to date.<\/p>\n
\u201cThe LP fault continues to demonstrate excellent continuity of near-surface high-grade gold, and has just yielded the highest-grade, widest drill interval to date,\u201d Chris Taylor, the company\u2019s president and CEO, said in a release. <\/p>\n With a C$21-million exploration program underway at Dixie, Great Bear has completed 111 of the 300 drill holes planned into the LP fault this year<\/p>\n<\/blockquote>\n<\/figure>\n \u201cDeeper drilling towards the northwest margin of our planned grid program has also extended high-grade gold mineralization in this area.\u201d<\/p>\n BR-133 was completed on a section with a 140-metre gap in drilling; hole BR-134 drilled on the same section intersected the same mineralized zone 75 metres below BR-133 and returned 63.7 metres of 3.62 g\/t gold, which includes a higher-grade interval of 18.5 metres grading 11.16 g\/t gold, starting at 158.4 metres.<\/p>\n In addition, a drill hole completed by the northwestern end of the LP fault, 2,400 metres northwest of BR-133 hit the same mineralized zone at depth, returning 10.1 metres of 5.04 g\/t gold. <\/p>\n These results extend the high-grade gold mineralization by 100 metres to the northwest and suggest increasing grades and thicknesses of the mineralization with depth.<\/p>\n With a C$21-million exploration program underway at Dixie, Great Bear has completed 111 of the 300 drill holes planned into the LP fault this year as it drills this structure on a 5 km by 500 metre grid. Additional drilling is also planned for the Dixie Limb and Hinge zones. <\/p>\n Earlier this month, the company closed a C$33-million bought deal private placement and estimates that it is fully funded to continue drilling into 2022. Updated exploration plans are pending.<\/p>\n There are two exploration targets at the 91.4-sq.-km Dixie property: high-grade gold in quartz veins and replacement zones at the Dixie Limb and Hinge zones as well as high-grade disseminated gold with broad envelopes at the LP fault. The latter is interpreted to cover up to 18 km of strike at Dixie.<\/p>\n Midday Monday, Great Bear\u2019s stock was up nearly 10% on the TSXV. The company has a C$593 million market capitalization.<\/p>\n\n